Subway announced that it is selling itseIf to Roark Capital, a private equity firm whose two holding companies already own an impressive collection of fast-food chains. Roark-owned brands include Dunkin’, Carvel, Jimmy John’s, Arby’s, Cinnabon, and Buffalo Wild Wings–and that’s just a partiaI list.
Subway is owned by the families of Fred DeLuca and Peter Buck, who founded the chain in 1965. At the time, Buck was 34. DeLuca was 17 and trying to raise money for college. Buck Ient him $1,000 and suggested they start a sandwich shop.
DeLuca passed away in 2015 and Buck di ed in 2021, but Subway remained a family owned business until now. It must have been a wrenching decision to give up ownership of the chain. But however they may feel about it, the families seem to have negotiated the best possibIe deal for the chain. Every business owner looking to sell can learn from their approach.
Our story begins back in February, when the families hired JPMorgan Chase as an adviser to explore a sale. At the time, the families reportedIy wanted $10 billion for one of the world’s two largest fast-food chains.
But it’s been a bad year for acquisitions so far, and some observers noted that the chain has been losing ground to newer rivaIs such as Firehouse Subs in recent years. With its shares of U.S. sandwich sales down from 34 percent in 2017 to 23 percent today, some questioned whether Subway was really worth $10 billion.
After Husband Dies, Widow Inherits Cheap Pendant and Lady She Never Met Inherits His Property
This story offers a poignant look at love, loss, and unexpected family ties. Agatha and Richard’s life together was built on years of companionship, trust, and an acceptance of life’s challenges. In the end, Richard’s decision to leave his estate to Sue reflects his deep empathy and a desire to support the child he never knew he had. At the same time, he took measures to ensure Agatha’s well-being, knowing that his choice could leave her feeling blindsided and hurt.
The pendant and hidden note serve as a reminder of the unique love they shared and Richard’s respect for Agatha’s role in his life. In choosing not to contest the inheritance, Agatha honors Richard’s wishes, a quiet acknowledgment of his care for both her and his newly discovered daughter. The story concludes with a sense of peace for Agatha, whose life finds new purpose in her condo in Florida while she stays connected to the farm, a symbol of Richard’s legacy and Sue’s new family.
The takeaways from Agatha’s story are universal:
1. Compassionate planning** – Richard’s thoughtful division of assets shows how important it is to consider everyone impacted by an inheritance, including unexpected family members.
2. Transparent communication** – Though Richard chose not to tell Agatha about Sue directly, his hidden message reveals his consideration for Agatha’s emotional journey, demonstrating the power of transparency in a partnership.
3. Resilience and letting go** – Agatha’s decision to let go of the property without contention reflects her resilience and love for Richard, finding peace in her memories while allowing Sue to carry forward the family’s legacy.
The story ultimately reminds us that love transcends inheritance and that true wealth lies in the memories and relationships we cultivate along the way.
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